The income statement for Wyoming Communications follows. Assume Wyoming Communications signed a 120-day, 4%, $ 6,000 note
Question:
The income statement for Wyoming Communications follows. Assume Wyoming Communications signed a 120-day, 4%, $ 6,000 note on June 1, 2015, and that this was the only note payable for the company.
Requirements
1. Fill in the missing information for Wyoming’s year ended July 31, 2015, income statement.
2. Compute the times-interest-earned ratio for thecompany.
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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